Here are a few interesting bits and pieces that we have seen the week of July 2-8, 2012.
- Belgium's cabinet postponed the planned closure of one of its oldest nuclear reactors by a decade on Wednesday over concerns the country may not be able to generate enough alternative energy. Belgium has seven nuclear reactors (2% of globalfleet) generating about half of its electricity. (learn more)
- According to a report presented to Japan's cabinet of ministers, the country risks taking a $564 billion hit to its economy if it does away with nuclear power generation by 2030. The estimated impact of a nuclear-free policy represents a 7.4% cut in GDP, compared with the 2030 projection if the current policy is maintained. (learn more)
- Unesco World Heritage Committee has granted Tanzania's request to change part of Selous Game Reserve boundaries to allow mining of uranium. The decision removes one more barrier for development of the Mkuju River Project operated by Uranium One (OTC:SXRZF). (learn more)
- Kazakhstan can increase uranium production to 30,000 tons in 2-3 years, according to a recent interview by Kazatomprom deputy Nurlan Ryspanov. The country produced 19,450 tons of uranium or 35 percent of world production in 2011. While this is more of a statement about Kazakhstan capacity to increase its production, not a specific program to do so, such increase would considerably change the supply and demand balance for the uranium market. (learn more). This comes on the back of an earlier announcement of recent decline in Kazatomprom's profitability. (learn more)
- Paladin Energy (OTCPK:PALAF) signed agreements with three new customers in the United States to sell uranium output from its Langer Heinrich mine in Namibia. Sales commitments from the deals total over 2.8 million pounds of U308. Assuming the contracts are signed under the long-term arrangements with fixed price component, the new deals would add predictability to Paladin's cash flow profile and limit exposure to the spot price. (learn more)
- Spot uranium price remains unchanged at $50.75/lb. Term price indicator remains the same as well at 61.50 (UxC) / $61(Tradetech).